The 12 hottest Nordic fintech startups

Klarna CEO Sebastian Siemiatkowski.
Klarna
Financial technology, better known as fintech, is absolutely exploding around the world right now, with new businesses springing up doing everything from online lending to handling cryptocurrencies.

But Europe's Nordic countries — Denmark, Sweden, Iceland, Norway, and Finland — also have a flourishing scene. The region is already home to a so-called fintech "unicorns" — startups worth over $1 billion.

We've rounded up the 12 most exciting fintech businesses from the region below.

11. Lendino — Danish peer-to-peer lending platform

What it does: A Danish marketplace lending platform for institutional and individual investors, with a focus on lending to people or businesses in your local area. Well-known early stage London tech venture capital fund Passion Capital recently invested in the platform, although the amount was not disclosed.

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10. Fixura — Finish peer-to-peer lending platform

YouTube/Fixura

Based: Vasa, Finland.

Founded: 2010.

Raised: N/A.

What it does: A consumer peer-to-peer loans platform. Over €46.3 million (£33.25 million, $51.2 million) has been lent over the platform to date, with an average annual return of 10.3% including subscription and transaction fees.

What it does: Holvi offers business current account with built in accountancy tools. Small businesses, entrepreneurs, freelancers, and sole traders can get a real-time view of their company finances, as well as manage expenses and tackle invoices.

What it does: Coinify is a bitcoin company that helps merchants accept the cryptocurrency and builds tools to help users pay with bitcoin. The company raised an undisclosed funding round in the "multi-millions" last September, according to CoinDesk.

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7. FundedByMe — Swedish crowdfunding platform

An advert for subscription snack service Fikabox, which ran a crowdfunding campaign on FundedByMe.
Screenshot/FundedByMe

Based: Stockholm, Sweden.

Founded: 2011.

Raised: N/A.

What it does: FundedByMe is a crowdfunding platform that covers 8 countries including Sweden, Germany, and Singapore. The platform reportedly has 58,000 global users and has raised over $18 million (£11.6 million) for hundreds of businesses, according to Crowdfund Insider.

What it does: A bitcoin exchange that allows direct payments from 86 banks across 11 countries. The company recently signed a deal with Barclays to explore how the blockchain, the technology that underpins bitcoin, could be used in traditional finance.

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5. BehavioSec — Swedish biometric security company that works with most Nordic banks

4. Trustly — Swedish online payment method

A demo shot of how the Trustly button works.
Trustly

Based: Stockholm, Sweden.

Founded: 2008.

Raised: $30 million (£19 million).

What it does: An online payment method that lets you pay directly from your online bank account with just the click of a few buttons. The company recently expanded to 21 new European countries including the UK.

What it does: Meniga builds personal finance management tools that it sells to banks to then give to its customers. It works with banks including Skandia, ING, and Islandsbanki, reaching 25 million people across 16 countries. The company is poised to announce a similar partnership with a top 10 European bank imminently.

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2. iZettle — Swedish maker of card readers for small businesses

iZettle CEO Jacob de Geer.
iZettle

Based: Stockholm, Sweden.

Founded: 2010.

Raised: $165.5 million (£107.4 million).

What it does: iZettle build card readers designed for small businesses. The company also recently branched out into lending, based on data from usage of the card readers that can be used to predict future revenues. iZettle is reportedly valued at $500 million (£325 million), according to the Financial Times.